Real Estate Market Update: Saskatoon - Oct/23

Real Estate Market Update: Saskatoon - Oct/23

Market Update for October 2023:

  The City of Saskatoon reported 382 sales in October, a yearover-year gain of 20 per cent and 12 per cent above long-term, 10-year trends. New listings failed to offset a sixth consecutive month of above-average sales, resulting in the lowest October inventory levels reported in the Bridge City since 2007. With just over two months of supply in Saskatoon, we continue to see upward pressure on home prices. The benchmark price reached $382,700 in October, up from $381,900 in September and nearly 4 per cent above October 2022. Year-over-year price gains were reported in all property types, ranging from one per cent in semi-detached properties - to an eight per cent increase in townhouse/row-style properties. (Saskatchewan Realtors Association)

Lower inventory of houses = sellers market + higher prices.

If you are buying a home in Saskatoon right now you will find less homes available than usual, making the decisions quicker and you may be offering above asking price. 

If you are selling a home right now in Saskatoon you are likely getting above your expectations and happy with all the showings.

Stage your home correctly and make sure it presents itself nicely and you will be surprised at what it can fetch in today's market!

As always reach out with questions to me anytime.

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